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US markets assess Harvey damage


US stocks were mixed on Monday morning as investors assessed the fallout of the devastation wrought by Tropical Storm Harvey in Texas, one of America’s biggest states.Insurance companies were among the firms posting losses in the wake of the storm, which has caused billions of dollars in flood damage.The Dow Jones fell 0.1% to 21,793 but the wider S&P 500 index was up 0.04% at 2,444.17 .The Nasdaq increased 0.11% to 6,272.45.Some of the heaviest declines were seen at insurance companies: The Travelers Co fell almost 2.6%, while Progressive Corp dropped 2.4% and Allstate Corp fell 1.65%.But other sectors, such as home improvement chains, were expected to benefit: Home Depot shares climbed 0.9% and Lowe’s was up 1% in morning trade. Expedia, though, was on the slide, down by more than 4%, after reports that its chief executive would be leaving the company to lead Uber.
Source: BBC